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Dec 8, 2012 2:00pm EST
economy standards and other reasons. we still continue to have a problem. the report we are releasing today and the subtitle says it all. harnessing american resources and innovation. how do we leverage this abundance we have in the united states to our maximum benefit? washington is talking about our fiscal crisis. the relationship of our oil needs to this crisis are close. it is unnecessary ingredients. every recession in modern times has been preceded by oil price hike. we can cut all we want and raise revenue, we will never find a way to solve our fiscal troubles. how do we leverage this great abundance in the united states of for resources and our skills to help the country through these times and put us on a good footing for the next 50 or 100 years. i think this report is the beginning of a process of creating an effective and stable bipartisan consensus on energy policy. everything is about the zero sum game in this town. we see oil security as a unifying vision where people do not have to compromise their core principles. the environmental community can see a reduction in the
Dec 9, 2012 10:30am EST
it in a smart way that keeps our economy growing. earlier this year, congress extended the payroll tax cut through 2012. the two percentage point payroll tax cut has played an important role to sustain the recovery. boosting economic growth by an estimated 0.5% of one percentage point, and creating 400,000 jobs. we should continue the payroll tax cut through 2013, and yesterday i introduce legislation that would keep the employee payroll tax at 4.2% next year. to keep the economy growing -- there is good evidence of that in the last couple of months? job growth of about 511,000. to keep that momentum going, we should provide tax credits to small businesses. my legislation includes such an incentive for small businesses to grow. i am confident that congress will again be successful in reaching a compromise in the days ahead. i look forward to hearing today from the experts that we have before us today on how to reduce the deficit while protecting middle income families. as we enter the holiday season, americans should not have to face the uncertainty that many will face with regard to their
Dec 9, 2012 2:00pm EST
.4 trillion a regional economy, the largest in the country and it makes up 11% of the gdp of the entire country. just over a month ago, hurricane sandy brought the system to its knees. we experienced at an unprecedented level of destruction. left in the storm's wake were eight flooded subway tunnels and two the vehicular tunnels. 12 subway stations with major damage, some of them absolutely destroyed. we had railyards and maintenance shops under water and damage. just as the superstore was unprecedented, so was the level are preparation. we would shut down the entire system for the second time in our 100 year history. as it turns out, our preparations would not and could not have protected our entire systems for of the full force of sandy's wrath. at the height of the storm surge, the governor and i met and what we saw was truly unbelievable. we watched more than 86 million gallons of sea water flood and rush into the two tubes of that tunnel. it once the hurricane passed, our top priority was to restore service as quickly and safely as possible. i have to say i simply could not be more
Dec 8, 2012 10:00am EST
's economy is slowing down. how is that going to affect china's relationship with us, and where do you -- where do you all see that going? >> i think it -- well, it was slowing down. i think -- kind of think it's bottomed out now. it may have bottomed out on kind of easy credit from these new forms of trust banks where property developers can get loans. but i think it's an entirely good thing and i think the leadership in china probably is much happier for growth to be around 7% anyway. i always think it's a very fake sort of argument or line that people say that china has to grow at 8% otherwise it falls apart. you can grow at 8% and be building steel mills, or you can grow at 7% and be building an entirely different form of economy. and hopefully, in theory, that's what they might be doing. i mean, i think china has got lots of growth left in it yet. and frankly, with the -- you know, europe in the doldrums potentially for many years, the u.s. still trying to reach velocity speed or whatever it's called, you know, i think china's growth is a very positive thing for the world and for
Search Results 0 to 3 of about 4